All I’ve got to say is I never saw that coming. Money Management International consuming Clearpoint Credit Counseling in a merger.
Here is what I’ve learned from public sources.
Money Management International – new organization will utilize both MMI and Clearpoint tradenames.
Christopher Honenberger, chief executive officer of Clearpoint, announced his plan to retire in 2017.
Money Management International (MMI) and Clearpoint Credit Counseling Solutions (Clearpoint), two of the nation’s largest providers of nonprofit financial education and counseling, have announced their plan to merge operations. Under the merger agreement, the new organization will utilize both the MMI and Clearpoint trade names.
The merger combines over 100 offices across 36 states and brings together two agencies with rich histories. Clearpoint was founded in Atlanta in 1964, while MMI’s origins date back to 1958.
By combining strengths, the new organization will be able to provide a broader range of services to consumers nationwide, while continuing to pursue innovation within the financial education space.
The expanded organization will be headquartered in Sugar Land, Texas with Ivan Hand, President and Chief Executive Officer of MMI, continuing to serve in that capacity. Christopher Honenberger, Chief Executive Officer of Clearpoint, announced his plan to retire in 2017.
“We’re proud of the work our counselors and educators have done, helping millions of consumers across the country achieve financial stability,” said Honenberger. “This merger helps to ensure that the vital work we do not only continues, but expands.”
Added Hand, “Expansion has always been one of our top priorities. Connecting with Clearpoint helps us expand both our reach and our capacity to deliver on our mission of improving lives through financial education. Together, we can reach more people in more communities, providing a wider range of services, while improving operational efficiencies.”
Most financial counseling and education programs, including debt and budget counseling, student loan counseling, foreclosure counseling, bankruptcy counseling, debt management plans, and more will be offered through MMI. Clearpoint, as a division of MMI, will continue to provide financial counseling to low-to-moderate income consumers through its partner programs with businesses and community workshops.
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